If my withholding will pay my and my spouse's tax bill, does she still need to pay estimated taxes as an...
I am a full-time employee. My spouse is effectively employed long-term with one company, but has always been paid as an independent contractor.
If I plan on filing my 2018 taxes jointly with my spouse, but my spouse has not paid any estimated taxes during the year, is she likely to be on the hook for any penalties, etc., if my withholding was enough to cover our household combined tax bill?
Other notes: It may not be relevant, but my spouse is a green card
holder.
Based on the IRS withholding calculator results, I expect to see
a slight overpayment of my household's total federal income tax.
united-states income-tax withholding estimated-taxes
asked 3 hours ago
schadjo
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
add a comment |
I am a full-time employee. My spouse is effectively employed long-term with one company, but has always been paid as an independent contractor.
If I plan on filing my 2018 taxes jointly with my spouse, but my spouse has not paid any estimated taxes during the year, is she likely to be on the hook for any penalties, etc., if my withholding was enough to cover our household combined tax bill?
Other notes: It may not be relevant, but my spouse is a green card
holder.
Based on the IRS withholding calculator results, I expect to see
a slight overpayment of my household's total federal income tax.
united-states income-tax withholding estimated-taxes
asked 3 hours ago
schadjo
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
Please add the appropriate country tag.
– Lawrence
2 hours ago
add a comment |
I am a full-time employee. My spouse is effectively employed long-term with one company, but has always been paid as an independent contractor.
If I plan on filing my 2018 taxes jointly with my spouse, but my spouse has not paid any estimated taxes during the year, is she likely to be on the hook for any penalties, etc., if my withholding was enough to cover our household combined tax bill?
Other notes: It may not be relevant, but my spouse is a green card
holder.
Based on the IRS withholding calculator results, I expect to see
a slight overpayment of my household's total federal income tax.
united-states income-tax withholding estimated-taxes
asked 3 hours ago
schadjo
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
I am a full-time employee. My spouse is effectively employed long-term with one company, but has always been paid as an independent contractor.
If I plan on filing my 2018 taxes jointly with my spouse, but my spouse has not paid any estimated taxes during the year, is she likely to be on the hook for any penalties, etc., if my withholding was enough to cover our household combined tax bill?
Other notes: It may not be relevant, but my spouse is a green card
holder.
Based on the IRS withholding calculator results, I expect to see
a slight overpayment of my household's total federal income tax.
united-states income-tax withholding estimated-taxes
united-states income-tax withholding estimated-taxes
asked 3 hours ago
schadjo
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 3 hours ago
schadjo
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
edited 2 hours ago
asked 3 hours ago
schadjo
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 3 hours ago
schadjo
1063
asked 3 hours ago
schadjo
1063
1063
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
schadjo is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
Please add the appropriate country tag.
– Lawrence
2 hours ago
add a comment |
Please add the appropriate country tag.
– Lawrence
2 hours ago
Please add the appropriate country tag.
– Lawrence
2 hours ago
Please add the appropriate country tag.
– Lawrence
2 hours ago
add a comment |
1 Answer
1
active
oldest
votes
If you are filing joint then the important thing is to have enough withheld by the combination of both spouses withholding and estimated payments. It doesn't matter how the payments are divided between the spouses the only thing that is important is the combination.
I do this every year. We both have W-2 jobs. I find it easier to adjust my withholding during the year if it is required. I just make sure that the result is that I make the numbers for the safe harbor.
When a person has both a W-2 job and a small amount of 1099 income the advice is to make sure the withholding for the W-2 job covers the taxes for the 1099 income.
The risk is that you can miscalculate, especially if the 4th quarter is very good.
answered 3 hours ago
mhoran_psprep
65.4k889168
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
add a comment |
Your Answer
StackExchange.ready(function() {
var channelOptions = {
tags: "".split(" "),
id: "93"
};
initTagRenderer("".split(" "), "".split(" "), channelOptions);
StackExchange.using("externalEditor", function() {
// Have to fire editor after snippets, if snippets enabled
if (StackExchange.settings.snippets.snippetsEnabled) {
StackExchange.using("snippets", function() {
createEditor();
});
}
else {
createEditor();
}
});
function createEditor() {
StackExchange.prepareEditor({
heartbeatType: 'answer',
autoActivateHeartbeat: false,
convertImagesToLinks: true,
noModals: true,
showLowRepImageUploadWarning: true,
reputationToPostImages: 10,
bindNavPrevention: true,
postfix: "",
imageUploader: {
brandingHtml: "Powered by u003ca class="icon-imgur-white" href="https://imgur.com/"u003eu003c/au003e",
contentPolicyHtml: "User contributions licensed under u003ca href="https://creativecommons.org/licenses/by-sa/3.0/"u003ecc by-sa 3.0 with attribution requiredu003c/au003e u003ca href="https://stackoverflow.com/legal/content-policy"u003e(content policy)u003c/au003e",
allowUrls: true
},
noCode: true, onDemand: true,
discardSelector: ".discard-answer"
,immediatelyShowMarkdownHelp:true
});
}
});
schadjo is a new contributor. Be nice, and check out our Code of Conduct.
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
StackExchange.ready(
function () {
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f103511%2fif-my-withholding-will-pay-my-and-my-spouses-tax-bill-does-she-still-need-to-p%23new-answer', 'question_page');
}
);
Post as a guest
Required, but never shown
1 Answer
1
active
oldest
votes
1 Answer
1
active
oldest
votes
active
oldest
votes
active
oldest
votes
If you are filing joint then the important thing is to have enough withheld by the combination of both spouses withholding and estimated payments. It doesn't matter how the payments are divided between the spouses the only thing that is important is the combination.
I do this every year. We both have W-2 jobs. I find it easier to adjust my withholding during the year if it is required. I just make sure that the result is that I make the numbers for the safe harbor.
When a person has both a W-2 job and a small amount of 1099 income the advice is to make sure the withholding for the W-2 job covers the taxes for the 1099 income.
The risk is that you can miscalculate, especially if the 4th quarter is very good.
answered 3 hours ago
mhoran_psprep
65.4k889168
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
add a comment |
If you are filing joint then the important thing is to have enough withheld by the combination of both spouses withholding and estimated payments. It doesn't matter how the payments are divided between the spouses the only thing that is important is the combination.
I do this every year. We both have W-2 jobs. I find it easier to adjust my withholding during the year if it is required. I just make sure that the result is that I make the numbers for the safe harbor.
When a person has both a W-2 job and a small amount of 1099 income the advice is to make sure the withholding for the W-2 job covers the taxes for the 1099 income.
The risk is that you can miscalculate, especially if the 4th quarter is very good.
answered 3 hours ago
mhoran_psprep
65.4k889168
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
add a comment |
If you are filing joint then the important thing is to have enough withheld by the combination of both spouses withholding and estimated payments. It doesn't matter how the payments are divided between the spouses the only thing that is important is the combination.
I do this every year. We both have W-2 jobs. I find it easier to adjust my withholding during the year if it is required. I just make sure that the result is that I make the numbers for the safe harbor.
When a person has both a W-2 job and a small amount of 1099 income the advice is to make sure the withholding for the W-2 job covers the taxes for the 1099 income.
The risk is that you can miscalculate, especially if the 4th quarter is very good.
answered 3 hours ago
mhoran_psprep
65.4k889168
If you are filing joint then the important thing is to have enough withheld by the combination of both spouses withholding and estimated payments. It doesn't matter how the payments are divided between the spouses the only thing that is important is the combination.
I do this every year. We both have W-2 jobs. I find it easier to adjust my withholding during the year if it is required. I just make sure that the result is that I make the numbers for the safe harbor.
When a person has both a W-2 job and a small amount of 1099 income the advice is to make sure the withholding for the W-2 job covers the taxes for the 1099 income.
The risk is that you can miscalculate, especially if the 4th quarter is very good.
answered 3 hours ago
mhoran_psprep
65.4k889168
answered 3 hours ago
mhoran_psprep
65.4k889168
answered 3 hours ago
mhoran_psprep
65.4k889168
answered 3 hours ago
mhoran_psprep
65.4k889168
65.4k889168
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
add a comment |
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
That's what I figured. It didn't make much sense that the IRS would penalize my household if it's still paying its taxes, since money's money, but you never know... Thanks for the input.
– schadjo
2 hours ago
add a comment |
schadjo is a new contributor. Be nice, and check out our Code of Conduct.
schadjo is a new contributor. Be nice, and check out our Code of Conduct.
schadjo is a new contributor. Be nice, and check out our Code of Conduct.
schadjo is a new contributor. Be nice, and check out our Code of Conduct.
Thanks for contributing an answer to Personal Finance & Money Stack Exchange!
- Please be sure to answer the question. Provide details and share your research!
But avoid …
- Asking for help, clarification, or responding to other answers.
- Making statements based on opinion; back them up with references or personal experience.
To learn more, see our tips on writing great answers.
Some of your past answers have not been well-received, and you're in danger of being blocked from answering.
Please pay close attention to the following guidance:
- Please be sure to answer the question. Provide details and share your research!
But avoid …
- Asking for help, clarification, or responding to other answers.
- Making statements based on opinion; back them up with references or personal experience.
To learn more, see our tips on writing great answers.
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
StackExchange.ready(
function () {
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f103511%2fif-my-withholding-will-pay-my-and-my-spouses-tax-bill-does-she-still-need-to-p%23new-answer', 'question_page');
}
);
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function () {
StackExchange.helpers.onClickDraftSave('#login-link');
});
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Please add the appropriate country tag.
– Lawrence
2 hours ago